PETALING JAYA (April 10): With the current Covid-19 pandemic and economic situation impacting the country and globally, is the real estate industry irrelevant and a total crash and gloom? Or are there property gems out there buyers can take advantage of?
To discuss these issues, EdgeProp.my organized a LIVE Fireside Chat which took place today at 2pm on EdgeProp’s Malaysia Facebook Page titled Undervalued Properties: Opportunities or a Risk touched on the secrets to buying undervalued properties, what’s out there in the market and how you can make informed decisions on your purchase.
The online event received more than 10,000 views with many posing questions which were answered live by the guest experts during the event. They were Propnex principal and chief operating officer Evon Heng, Kith & Kin Realty co-founder Freeman Woo, Rescom Realty & PEHAM Exco team leader Mohd Faizal Mohd Ismail and Propstar Realty senior real estate negotiator Kevin Teh, the chat was moderated by EdgeProp Malaysia managing director and editor-in-chief Au Foong Yee.
“We are living in interesting times, a time that is beyond the wildest imagination of anyone throughout the world. Such as the current economic and investment landscape. Bank Negara Malaysia expects GDP growth in 2020 to range from -2% to 0.5%. World Bank has recently revised its projected growth for Malaysia, from 4.5% to -0.1%,” said Au kicking off the live chat session.
She recalled that during the global financial crisis in 2008, despite negative Gross Domestic Product (GDP) growth, house prices in Malaysia continued to rise steadily.
“Before you think about popping the champagne, getting out of the current economic woes is a lot trickier. Why? Because it involves a life-threatening health crisis that is affecting people all across the globe. Will the Malaysian housing market crash? Is it going to be total gloom? Or, are we staring at once-in-a-lifetime investment opportunity?” she asked before inviting the real estate agents to showcase some of the undervalued properties available in the market currently.
Stay safe at home and shop for good bargains at home with EdgeProp.my, click here for more undervalued property listings.
For the full report on the Fireside Chat read the April 17, 2020 issue of Edgeprop.my pullout.